If you think about the Uber One benefits, we think about that as content. So in terms of Uber One, we think Uber One is a terrific membership program. You guys have laid out an incremental margin strategy, but how should we be thinking about your broader views on efficiency inside the organization, especially with respect to some of the corporate costs inside the company's cost structure? Thanks so much. ![]() How do we think about active versus passive approach to driving the subscription element of the business?Īnd then obviously, one of the more recurring themes during earnings season has been elements of continued efficiency and cost cutting within organizations. Dara, as you think forward to 2023 and you sort of aligned an array of products between Delivery and Mobility, how should we be thinking about Uber One as a subscription product? And elements of either leaning in behind growth and pushing adoption of the product to create a wider moat around the collection of assets you have versus maybe just letting virality build around the subscription product. Your first question comes from the line of Eric Sheridan with Goldman Sachs. ![]() With that, let's open it up to questions. But we are far from complacent, and we'll continue to hold ourselves to high standards of growth and profitability to deliver yet another record year in 2023. Mobility trip growth is accelerating and Delivery remains resilient. We're entering the year with great momentum. Put simply, the Uber platform has never been stronger and we're making great progress building on our platform advantage through advertising and membership.ĭespite any macroeconomic uncertainty, I'm more confident than ever in our prospects. At the same time, we're laser-focused on making Uber the best platform for earners, with over 5.4 million people earning on Uber around the world, another all-time high. We crossed 2 billion quarterly trips, and our Mobility consumer base exceeded 100 million for the first time in our history. We reached several new milestones this quarter. Adjusted EBITDA of $665 million exceeded the high-end of our guidance for the sixth quarter in a row and we delivered strong incremental adjusted EBITDA margin of 12%. Uber delivered our strongest quarter ever in Q4, with gross bookings up 26% year-on-year on a constant currency basis. ![]() We will open the call to questions following brief opening remarks from Dara. And we ask you to review those documents if you haven't already. We published our quarterly earnings press release, prepared remarks and supplemental slides to our Investor Relations website earlier today. For more information about factors that may cause actual results to differ materially from forward-looking statement, please refer to the press release the issue today as well as risks and uncertainties described in our most recent annual report on Form 10-K for the year ended December 31, 2021, and in other filings made for the SEC went public. Actual results may differ materially from these forward-looking statement and we do not undertake any obligation to update any forward-looking statement we make today, except as required by law. Such statements can be identified but such as believe, expect, intend and may, and you should not place undue reliance on forward-looking statement. As a reminder, these numbers are unaudited and may be subject to change.Ĭertain statements in this presentation and on this call are forward-looking statement. Additional disclosures regarding these non-GAAP measures, including the reconciliation of GAAP to non-GAAP measures are included in the press release supplemental slides and our filings with the SEC, each of which is posted to. On the call today we have Uber CEO, Dara Khosrowshahi and CFO, Nelson Chai.ĭuring today's call, we will present both GAAP and non-GAAP financial measures. Thank you for joining us today and welcome to Uber's fourth quarter 2022 presentation. It is now my pleasure to turn today's conference over to Mr. After the speakers' remarks, there will be a question-and-answer session. ![]() All lines have been placed on mute to prevent any background noise. At this time, I would like to welcome everyone to the Uber Fourth Quarter '22 Earnings Conference Call. My name is Angela, and I will be your conference operator today. Ladies and gentlemen, thank you for standing by. Justin Post - Bank of America Merrill Lynch ( NYSE: UBER) Q4 2022 Earnings Conference Call Febru8:00 AM ET
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